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href="https://web.archive.org/web/20160505052139/mailto:/?subject=Australia%20rejects%20massive%20Kidman%20farmland%20sale%20to%20China&body=Here%20is%20something%20from%20Nikkei%20Asian%20Review%20that%20might%20interest%20you%3A%0D%0AAustralia%20rejects%20massive%20Kidman%20farmland%20sale%20to%20China%0D%0Ahttp://s.nikkei.com/1YWksOJ">Mail</a></li> </ul> </div> <div class="article-box"> <div class="detail"> <div class="feature-article"> <div class="date-area">April 30, 2016 12:00 am JST</div> <h1 class="title">Australia rejects massive Kidman farmland sale to China</h1> <p>KAORI TAKAHASHI, Nikkei staff writer</p> </div> <img src="/web/20160505052139im_/http://asia.nikkei.com/var/site_cache/storage/images/node_43/node_51/2016/201602/20160216/20160216kidman1/4062428-1-eng-GB/20160216kidman1_article_main_image.jpg" width="580" alt=""/> <p class="img-caption"> Cattle being yarded at Kidman's Durham Downs station in Queensland.(Photo courtesy of S.Kidman & Co) </p> </div> </div> <div class="article-box detail"> <div class="wysiwyg_area"> <div class="articleBodyText"> <p>SYDNEY -- With a general election just months away and a growing unease among the public toward property purchases by Chinese interests, the Australian government has decided to block a sale of huge cattle farm holdings to a China-led consortium.</p><p>Federal Treasurer Scott Morrison said Friday that he made a preliminary decision to reject a deal that would give a company in China's Shanghai Pengxin Group control over cattle farms with combined acreage roughly equal to 1.3% of Australian land.</p><div class="page_limit free"></div><div class="page_limit"></div><p>A consortium led by Dakang Australia Holdings is offering 370 million Australian dollars ($282 million) for most of the properties held by S. Kidman & Co., the country's biggest private landholder. But such a large-scale foreign takeover requires approval by the treasurer and the country's Foreign Investment Review Board.</p><p>"I have concerns that the form in which the Kidman portfolio has been offered as a single aggregated asset has rendered it difficult for Australian bidders to be able to make a competitive bid," Morrison said. "Given the size and significance of the Kidman portfolio, I am concerned that the acquisition of an 80 percent interest in S. Kidman & Co. by Dakang Australia Holdings may be contrary to the national interest."</p><p>Public anxiety about Chinese interests buying farms and businesses is increasing in Australia. The current government led by Prime Minister Malcolm Turnbull strengthened the regulation regarding foreign investment in late March.</p><p>Morrison's preliminary decision does not mean a deal is dead, but the Dakang-led consortium likely will need to reduce the scale of its purchase to get the Australian government's approval.</p> </div> </div> <div id="modal-screen_zoom"></div> </div> <div class="pagination no-border"></div> <div class="related-list"> <p class="related-header">Related stories</p> <ul class="point-list"> <li><a href="/web/20160505052139/http://asia.nikkei.com/Politics-Economy/International-Relations/Nervous-Australia-turns-cautious-toward-Chinese-investment">Nervous Australia turns cautious toward Chinese investment</a></li> <li><a href="/web/20160505052139/http://asia.nikkei.com/Politics-Economy/Policy-Politics/Stricter-foreign-investment-rules-temper-hopes-for-agriboom"><span class="sub-title-s">Australia: </span>Stricter foreign investment rules temper hopes for agriboom</a></li> </ul> </div> <div class="OUTBRAIN" data-src="https://web.archive.org/web/20160505052139oe_/http://asia.nikkei.com/Politics-Economy/Policy-Politics/Australia-rejects-massive-Kidman-farmland-sale-to-China" data-widget-id="AR_1" data-ob-template="Nikkei_Asian_Review_EN"></div> <script type="text/javascript" async="async" src="https://web.archive.org/web/20160505052139js_/http://widgets.outbrain.com/outbrain.js"></script> <div class="link-box GCCMD_removeall">  <h2 class="title">Follow Nikkei Asian Review</h2> <div class="follow-nar"> <dl> <dt><div class="fb-like" data-href="https://www.facebook.com/nikkeiasianreview/" data-layout="button_count" data-action="like" data-show-faces="false" data-share="false"></div></dt> <dd class="Facebook">The best content posted</dd> <dt class="Twitter"><a href="https://web.archive.org/web/20160505052139/https://twitter.com/NAR" class="twitter-follow-button" data-show-count="false">Follow @NAR</a> </dt> <dd class="Twitter">The latest headlines tweeted</dd> </dl> </div> </div> </div> <script type="text/javascript">  </script> <script type="text/javascript">  </script> <script>  </script> <link rel="stylesheet" href="/web/20160505052139cs_/http://asia.nikkei.com/css/article_pagination_v001.css"/> <script type="text/javascript" src="/web/20160505052139js_/http://asia.nikkei.com/js/497390b.js"></script> <script type="text/javascript">  </script> </div> <div class="secondary"> <div class="link-box "> <h5 class="title"><a href="/web/20160505052139/http://asia.nikkei.com/Latestheadlines">Latest headlines</a></h5> <ul class="headline-list"> <li> <a href="/web/20160505052139/http://asia.nikkei.com/Life-Arts/Arts/Japan-South-Korea-displaying-ancient-statues-to-fete-friendship">Japan, South Korea displaying ancient statues to fete friendship</a> </li> <li> <a href="/web/20160505052139/http://asia.nikkei.com/Business/Companies/Facebook-takes-page-from-Google-playbook-in-cementing-founder-s-power">Facebook takes page from Google playbook in cementing founder's power</a> </li> <li> <a href="/web/20160505052139/http://asia.nikkei.com/Politics-Economy/International-Relations/Key-at-bay-as-NZ-seeks-wider-China-trade-deal">Key at bay as NZ seeks wider China trade deal</a> </li> <li> <a href="/web/20160505052139/http://asia.nikkei.com/Politics-Economy/International-Relations/Southeast-Asia-s-migration-wave-highlights-Japan-s-barriers">Southeast Asia's migration wave highlights Japan's barriers</a> </li> <li> <a href="/web/20160505052139/http://asia.nikkei.com/Politics-Economy/International-Relations/Trump-urges-Japan-to-pay-more-to-maintain-US-military-bases">Trump urges Japan to pay more to maintain US military bases</a> </li> </ul> <div class="more"><a href="/web/20160505052139/http://asia.nikkei.com/Latestheadlines">more</a></div> </div> <div class="rectangle">  <div id="div-gpt-ad-1375148072299-0" style="width:300px;"> <script type="text/javascript"> googletag.cmd.push(function() { googletag.display('div-gpt-ad-1375148072299-0'); 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